Over the long term, dividend-paying stocks far outperform non-dividend paying stocks when investors participate in a dividend reinvestment plan. It is for this reason that all long-term investors should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a portfolio full of them. With this in mind, let’s take a look at three stocks with yields up to 7.6% that you could buy today.

1. Inter Pipeline Ltd.

Inter Pipeline Ltd. (TSX:IPL) is one of largest providers of petroleum transportation, bulk liquid storage, and natural gas liquids extraction services in western Canada and northern Europe. It pays a monthly dividend of $0.13 per share, or $1.56 per share annually, giving its stock a 7.6% yield at today’s levels.

Investors must also note that Inter Pipeline has raised its annual dividend payment for seven consecutive years, and the 6.1% increase it announced on November 5 puts it on pace for 2016 to mark the eighth consecutive year with an increase.

2. Power Financial Corp.

Power Financial Corp. (TSX:PWF) is a diversified management and holding company with interests, directly or indirectly, in companies in the financial services industries in Canada, the United States, Europe, and Asia. It pays a quarterly dividend of $0.3725 per share, or $1.49 per share annually, giving its stock a 4.6% yield at current levels.

It is also important to note that Power Financial increased its dividend by 6.4% in February as a result of its strong operational performance, but this was only its first increase since 2008, so investors shouldn’t consider it a dividend-growth play yet.

3. North West Company Inc.

North West Company Inc. (TSX:NWC) is one of the leading retailers of food and everyday products and services to rural communities and urban neighborhoods in Canada, Alaska, the South Pacific, and the Caribbean. It pays a quarterly dividend of $0.31 per share, or $1.24 per share annually, giving its stock a 4.5% yield at today’s levels.

Investors should also note that, excluding special dividends, North West has raised its annual dividend payment for four consecutive years, and the 6.9% increase it announced on September 10 puts it on pace for 2016 to mark the fifth consecutive year with an increase.

Could your portfolio use more yield?

Inter Pipeline, Power Financial, and North West are three of the most attractive high-yielding investment options in their respective industries. All Foolish investors should take a closer look and strongly consider initiating positions in at least one of them today.

Want more top dividend stock picks for 2016?

These three top stocks have delivered dividends for shareholders for decades (and even centuries!). Check out our special FREE report: "3 Dividend Stocks to Buy and Hold Forever". Click here now to get the full story!

NEW! This Stock Could Be Like Buying Amazon In 1997

For only the 5th time in over 14 years, Motley Fool co-founder David Gardner just issued a Buy Recommendation on this recent Canadian IPO.

Stock Advisor Canada’s Chief Investment Adviser, Iain Butler, also recommended this company back in March – and it’s already up a whopping 57%!

Enter your email address below to claim your copy of this brand new report, “Breakthrough IPO Receives Rare Endorsement.”

Fool contributor Joseph Solitro has no position in any stocks mentioned.